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The burgeoning economies of China and India are attracting two types of entrepreneurs: eager locals and foreign-educated ex-pats returning from the diaspora. Success abounds, but the context in each country differs.
"In China they have been reinventing a capitalist, entrepreneurial venture system over the past 20-25 years," says INSEAD entrepreneurship professor Patrick Turner, "whereas in India they have just gone sailing forward on the crest of the wave formed by the opportunities from business-process outsourcing and the IT boom.

What tech entrepreneur hasn't imagined that life is more glamorous owning a vineyard, or making truffles? The Los Angeles Times found a few successful Silicon Valley types who cashed out to launch fashion-industry start-ups. They found it's much easier to start a venture on the Internet, where all it takes is a little money, brilliant programming and good word of mouth to attract customers by the millions

Wall Street's tepid response to the first tech listing there in six months has cast a long shadow over Silicon Valley. The web-hosting and services company RackSpace raised a disappointing $187.5 million last week. A lengthy period between listings could cause venture capitalists to reduce their investment in startups, particularly if they sense a lasting change of conditions.

Entrepreneurs who nurtured their businesses through two recessions say learning how to run lean will let you make the most of the evenual upturn. Cut expenses, they advise, but don't neglect your marketing.

"Serial entrepreneur" G.L. Hoffman is fascinated by the enthusiasm former presidential candidate Ron Paul inspired in his devotees. He examines Paul's tactics for ways to turn happy customers into evangelists for your business.